CINCINNATI (dpa-AFX) - The Procter & Gamble Company (PG) announced a new, simpler management structure to provide greater clarity on responsibilities. Beginning July 1, 2019, the company will operate though six industry-based Sector Business Units (SBUs) for the largest geographic markets, led by Sector Business Unit CEOs. These SBUs will have direct sales, profit, cash and value creation responsibility for its largest markets - U.S., Canada, China, Japan, U.K., Germany, France, Spain, Italy, Russia and smaller adjacent countries.
The company said it will continue to reduce the level of corporate resources, with about 60% of corporate work shifting to the business units and markets and will retain a core set of corporate resources needed to sustain the ongoing health, viability and sustainability of the Corporation. This includes back-office operations, governance and stewardship, and some areas requiring deep mastery. P&G will retain its Corporate Research & Development group.
Chief Financial Officer Jon Moeller will expand his responsibilities to include the operations side of the company and will be appointed Vice Chairman, Chief Operating Officer and Chief Financial Officer. Moeller will assume responsibility for markets beyond those managed directly by the SBUs, Market Operations providing scaled market services, and functions that support operations.
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